13th Jul 2016 12:25
LONDON (Alliance News) - British home-owners borrowing increased in May, the Council of Mortgage Lenders reported Wednesday.
House purchase lending increased 8% year-on-year to GBP 9.4 billion in May. On a monthly basis, lending grew 15%.
First-time buyers borrowed GPB 4.3 billion, up 10% on April and 23% on May last year.
"Brexit, and its likely effect on the market, is a question to which the answer will not immediately be forthcoming," Paul Smee, director general of the CML.
"Lenders will continue to be open for business as usual, but lending volumes may be affected by uncertain consumer sentiment," added Smee.
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